Indian stock market to drop !! Expect a correction soon || stock to avoid - YP Buzz

 YP Buzz - 

      Nifty Outlook                  

                            Nifty gave a breakout from the channel 15,050, and is expected to grow with the goal of 15,850-15,950 has been reached. Within a week nifty made a kind of "evening star" - template with reasonable revenue adjustments. In the midst of the panic and Useful as you almost reached the previous all-time high of 15,431. These data indicate that a short-term top has been located on this site. 

      Banknifty Outlook             

                           Technically, Bank Nifty changed more than 20% at the last visit, and not to a new high in the latest rally. At the same time, the return of 74.60% and started with the loss of the positions once again. Strong and Convenient, the bank has the support of about 32,000 levels. On the upper side, the 35,600-35,800 is a resistance zone. 

                                                                             

Stock Market

                                                                             

TATA STEEL: SELL

CMP: Rs 1,142 | Target-Rs 1,060 | Stop Loss of Rs 1,186 

Tata Steel gave it a sharp decrease in the levels of 1246 to 1072. Then, 20 EMA  played a supporting role in this process, Tata steel has played 50% of the total revenue. At the level of 1180-1186, It has got a Doji, and it is a manifestation of the light of rejection for the bulls over the weekend. The sell-off stated that there was a decline in the stock, and at the least, 1072, it will be tested. Theoretical objectives are noted, and now it's 1012. The 50 EMA is in 1046, and the clay is in it, so it can become the norm. 


ICICI BANK SELL 

CMP: Rs-640 | Target-Rs 584 | Stop Loss of Rs 667 

ICICI Bank made a high of Rs 679.40 in February and tested a low of RS 531.50 in mid-May. Awards and managed to win it back, 88.20%, and the lowest 665 rupees. Over the last couple of sessions, it has to be sold off and then on again to resume its downtrend. Another goal is to Rs 584, the 200 EMA is at Rs 548. It's a dead-end, it is a person, therefore, it will act as a major support on the downside.


Thanks & Regards

  YP Buzz

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